Suppose you receive

$$$$200200$

at the end of each year for the next

$33$

years.

a$.$ If the interest rate is

$6\%6\%,$

what is the present value of these cash$$ flows?

b$.$ What is the future value in

$33$

years of the present value you computed in

$($a$)?$

c$.$ Suppose you deposit the cash flows in a bank account that pays

$6\%6\%$

interest per year. What is the balance in the account at the end of each of the next

$33$

years$($after your deposit is$$ made$)?$ How does the final bank balance compare with your answer in

$($b$)?$

Question content area bottom

Part $1$

a$.$ If the interest rate is

$6\%6\%,$

what is the present value of these cash$$ flows?

The present value of these cash flows is

$$$enter your response here.

$($Round to the nearest$$ cent.$)$